In a bid to prevent the circulation of counterfeit currency during the upcoming Eid-ul-Adha sacrificial animal trading, Bangladesh Bank has directed commercial banks to set up counterfeit note detection booths at approved cattle markets across the country.
The central bank issued a circular on Sunday instructing banks to provide free note verification and counting services at these markets, including upazila-level cattle markets. The booths will be staffed with experienced cash officers and equipped with counterfeit note detection machines, ensuring the availability of these services from the markets’ opening day until the night before Eid.
Banks are required to submit the names, designations, and contact details of the officials assigned to the booths by 17 May 2026. In Dhaka, services will be provided at markets approved by the two city corporations, while in other areas, banks will coordinate with city corporations, municipalities, and Bangladesh Bank’s regional offices to implement similar arrangements.
For districts without regional Bangladesh Bank offices, Sonali Bank branches will take charge of coordinating responsibilities among other banks.
“Banks must also ensure cash counting facilities are available using note counting machines at the booths,” the central bank’s directive stated.
Banks are encouraged to collaborate with local authorities, including upazila administrations, market leaseholders, and law enforcement agencies, to facilitate booth operations and ensure security.
The booths will prominently display the bank’s name along with a “Counterfeit Note Detection Booth” banner, and TV screens will broadcast videos detailing security features of banknotes.
The circular further stipulates that if counterfeit notes are detected, banks must follow existing counterfeit currency management guidelines. If a counterfeit note is presented, the bank may hand over both the note and the person presenting it to the police if necessary. If the presenter is found to be unaware, the note must be impounded and a detailed report submitted to the police for further investigation.
In addition, banks are instructed to provide financial allowances to officials assigned to these duties. They must also submit a detailed report to Bangladesh Bank within 30 working days after Eid-ul-Adha, outlining the actions taken under the directive.
This initiative is aimed at ensuring a secure and transparent environment during the busy Eid-ul-Azha trading period, where the circulation of fake notes has been a growing concern in recent years.
